Wingstop Inc. $WING Shares Sold by TD Asset Management Inc

TD Asset Management Inc decreased its position in Wingstop Inc. (NASDAQ:WING) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,172 shares of the restaurant operator’s stock after selling 1,366 shares during the period. TD Asset Management Inc’s holdings in Wingstop were worth $16,558,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Wingstop by 104.9% in the first quarter. GAMMA Investing LLC now owns 457 shares of the restaurant operator’s stock valued at $103,000 after purchasing an additional 234 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Wingstop by 2.5% in the 1st quarter. State of Alaska Department of Revenue now owns 3,419 shares of the restaurant operator’s stock valued at $771,000 after buying an additional 85 shares during the period. Praxis Investment Management Inc. boosted its stake in shares of Wingstop by 72.5% in the first quarter. Praxis Investment Management Inc. now owns 1,570 shares of the restaurant operator’s stock valued at $354,000 after buying an additional 660 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Wingstop by 25.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,346 shares of the restaurant operator’s stock valued at $1,206,000 after buying an additional 1,096 shares in the last quarter. Finally, Spirepoint Private Client LLC grew its holdings in Wingstop by 50.0% during the first quarter. Spirepoint Private Client LLC now owns 1,266 shares of the restaurant operator’s stock worth $286,000 after acquiring an additional 422 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group boosted their target price on shares of Wingstop from $335.00 to $385.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Stifel Nicolaus decreased their price objective on shares of Wingstop from $405.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, September 9th. Piper Sandler began coverage on shares of Wingstop in a research report on Wednesday, July 9th. They set an “overweight” rating on the stock. Wells Fargo & Company reduced their price target on shares of Wingstop from $415.00 to $365.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Sanford C. Bernstein reissued an “overweight” rating and set a $440.00 price target on shares of Wingstop in a research note on Thursday, July 31st. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $366.73.

Insiders Place Their Bets

In other news, CFO Alex Kaleida sold 5,400 shares of the business’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $376.09, for a total value of $2,030,886.00. Following the completion of the transaction, the chief financial officer directly owned 8,362 shares of the company’s stock, valued at $3,144,864.58. The trade was a 39.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael Skipworth sold 4,500 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $370.34, for a total value of $1,666,530.00. Following the completion of the sale, the chief executive officer owned 42,777 shares in the company, valued at $15,842,034.18. This represents a 9.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,838 shares of company stock valued at $8,118,535. Corporate insiders own 0.72% of the company’s stock.

Wingstop Stock Up 4.4%

Wingstop stock opened at $257.04 on Friday. The firm has a market capitalization of $7.18 billion, a PE ratio of 42.84, a P/E/G ratio of 3.13 and a beta of 1.78. Wingstop Inc. has a 52 week low of $204.00 and a 52 week high of $388.14. The firm’s 50-day simple moving average is $286.20 and its 200 day simple moving average is $298.48.

Wingstop (NASDAQ:WING) last posted its earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.12. Wingstop had a net margin of 25.61% and a negative return on equity of 17.07%. The firm had revenue of $174.33 million during the quarter, compared to the consensus estimate of $172.60 million. During the same period last year, the firm posted $0.93 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, research analysts expect that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were issued a dividend of $0.30 per share. This is a boost from Wingstop’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.5%. Wingstop’s payout ratio is currently 20.00%.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.